CENTRAL BANK OF INDIA LAUNCHED SCHEMES TO EASE LIQUIDITY OF ITS BORROWERS TO TIDE OVER THE CRISIS FACED DUE TO COVID-19 PANDEMIC

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Central Bank Of India a major nationalized bank has announced various schemes to ease the liquidity position of its borrowers who may be facing the liquidity crunch due to onset of COVID-19 Pandemic and resultant nationwide lockdown. Schemes are aimed at helping all its borrowers like corporate customers/MSME customers/Agriculture customer and even SHG customers also.



Ø CENT COVID-19 SAHAYATA – The scheme has been launched to assist all borrowal accounts availing fund based working capital limits which are classified as standard assets can avail emergency line of credit up to 10% of existing fund based working capital limits, subject to a maximum of Rs. 50 Cr. which is repayable in 18 EMIs with 6 month moratorium. This provision of additional  credit facility  is available to MSME borrowers also.  Scheme is valid up to 30.06.2020.



Facilities have been provided for reduction of margin, full interchangeability between fund based and non fund based limits.





Ø  Cent Kisan Covid-19 Care has been launched to assist agriculture borrowers to overcome the impact of Covid-19. All existing Kisan Credit Cards holders or Term loan borrowers for Crop/Fisheries/Poultry/Dairy/Animal Husbandry having satisfactory track records of at least one year are eligible. Minimum limit is Rs.10, 000/ and Maximum limit is Rs.50, 000/. Scheme is valid up to 30.09.2020.





Ø  Special loan scheme for SHG Covid-19 Care and special loan scheme of NRLM SHG Covid-19 care-The scheme is aimed at providing finance to all existing credit linked Self Help Groups. Maximum amount Rs.5000/ per member and maximum ceiling is Rs.100, 000/ per SHG group. Scheme is valid up to 30.09.2020.



Definite time frames have been stipulated for collection of application, processing and speedy disbursement. Nodal officers have been nominated for different segments for effective monitoring and implementation of these schemes.

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